ANGEL ONE SILVER ETF FOF

SCHEME INFORMATION DOCUMENT Name of Mutual Fund : ANGEL ONE MUTUAL FUND Name of Asset : ANGEL ONE ASSET MANAGEMENT COMPANY LIMITED Management Company CIN:U66301MH2023PLC402297 Address of AMC : G-1, Ground Floor, Ackruti Trade Centre, Road No. 7, Kondivita, MIDC, Andheri (East), Mumbai – 400 093 Website of AMC : www.angelonemf.com Name of Trustee Company : ANGEL ONE TRUSTEE LIMITED CIN : U64300MH2023PLC403520 Address of Trustee : G-1, Ground Floor, Ackruti Trade Centre, Road No. 7, Kondivita, Company MIDC, Andheri (East), Mumbai – 400 093 Name of the Scheme : ANGEL ONE SILVER ETF FOF Category of Scheme : Other commodity based Fund of Fund scheme Scheme Code : (Will be disclosed after obtaining the same) NFO open date : [*] NFO close date : [*] Offer for Units of Rs. 10/- each for cash during the New Fund Offer (“NFO”) and Continuous Offer for Units at NAV based prices. The product labelling assigned during the NFO as above is based on internal assessment of the scheme characteristics or model portfolio and the same may vary post NFO when the actual investments are made. 1Investors are advised to refer to the Statement of Additional Information (SAI) for details of Angel One Mutual Fund, Standard Risk Factors, Special Considerations, Tax and Legal issues and other general information on www.angelonemf.com. The particulars of the Scheme have been prepared in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations 1996, (hereinafter referred to as “SEBI (MF) Regulations”) as amended till date and circulars issued thereunder filed with SEBI. The units being offered for public subscription have not been approved or recommended by SEBI nor has SEBI certified the accuracy or adequacy of the Scheme Information Document. The Scheme Information Document sets forth concisely the information about the Scheme that a prospective investor ought to know before investing. Before investing, Investors should also ascertain about any further changes to this Scheme Information Document after the date of this Document from the Mutual Fund / Investor Service Centres / Website / Distributors or Brokers. SAI is incorporated by reference (is legally a part of the Scheme Information Document). For a free copy of the current SAI, please contact your nearest Investor Service Centre or log on to our website. The Scheme Information Document should be read in conjunction with the SAI and not in isolation. This Scheme Information Document is dated January 14, 2026. 2INDEX PARTICULARS PAGE NO. HIGHLIGHTS / SUMMARY OF THE SCHEME 4 ANNEXURE – I : SCHEME RELATED DISCLOSURES FOR SCHEMES 15 COVERED UNDER MF LITE FRAMEWORK SCHEME SPECIFIC DISCLOSURES 36 DISCLOSURES IN TERMS OF CONSOLIDATED CHECKLIST ON STANDARD 46 OBSERVATIONS 3HIGHLIGHTS / SUMMARY OF THE SCHEME Sr. Title Description No. I. Benchmark (TRI) Domestic price of silver. The investment would be in units of Angel One Silver ETF. Thus, the aforesaid benchmark is such that it is most suited for comparing performance of the Scheme. The Trustee reserves right to change benchmark in future for measuring performance of the Scheme subject to SEBI MF Regulations and circulars issued by SEBI from time to time. II. Plans and Options The Scheme offers two plans: (i) Direct Plan and (ii) Regular Plan: Plans/Options and sub Direct Plan options under the Direct Plan is only for investors who purchase /subscribe Units in Scheme the scheme directly with the Fund and is not available for investors who route their investments through a Distributor. Regular Plan Regular Plan is available for all type of investors investing through a Distributor. Growth Option - This option is suitable for Investors who are seeking long term capital growth. For details with respect to AMFI Best Practices Guidelines dated February 2, 2024 on treatment of applications received with invalid ARNs or ARNs subsequently found to be invalid, Investors are requested to refer to the relevant provisions of the SAI. Default scenarios available to the Investors under the Plans of the Scheme Treatment of applications under "Direct" / "Regular" Plans: Sce- Broker Code Plan Default nario mentioned by mentioned Plan to be the Investor by the captured Investor 1 Not mentioned Not Direct Plan mentioned 2 Not mentioned Direct Direct Plan 43 Not mentioned Regular Direct Plan 4 Mentioned Direct Direct Plan 5 Direct Not Direct Plan Mentioned 6 Direct Regular Direct Plan 7 Mentioned Regular Regular Plan 8 Mentioned Not Regular Mentioned Plan For detailed disclosure on default Plans and options, kindly refer SAI. Both the Plans will have a common portfolio. The Trustee reserves the right to add/discontinue any other options/ sub- options under the Scheme. III. Load Structure Entry Load : Not Applicable Exit Load : Nil The Trustee shall have the right to modify the Exit Load structure with prospective effect subject to a maximum prescribed under the SEBI MF Regulations. Investors are requested to check the prevailing load structure of the Scheme before investing. Any imposition or enhancement in the load shall be applicable on prospective investments only. Subject to the SEBI MF Regulations, the Trustee reserves the right to modify/alter the Load structure on the Units subscribed/redeemed on any Business Day. At the time of changing the Load structure, the AMC / Mutual Fund may adopt the following procedure: i. The addendum detailing the changes will be attached to Scheme Information Document and Key Information Memorandum. The addendum will be circulated to all the distributors/brokers so that the same can be attached to all Scheme Information Documents and Key Information Memoranda already in stock. ii. Arrangements will be made to display the addendum in the Scheme Information Document in the form of a notice in all the Investor Service Centres and distributors/brokers office. 5iii. The introduction of the Exit Load along with the details will be stamped in the acknowledgement slip issued to the Investors on submission of the application form and will also be disclosed in the statement of accounts issued after the introduction of such Load. iv. A public notice shall be provided on the website of the AMC in respect of such changes. IV. Minimum Application During New Fund Offer : Amount / Switch in Lumpsum purchase - Rs. 500/- and in multiples of Re. 1/- thereafter. SIP – Please refer below table. On continuous basis : Lumpsum purchase – Rs. 500/- and in multiples of Re. 1/- thereafter. SIP and Minimum Minimum Amount frequency Instalments (Nos.) Rs. 250/- & in Daily multiples of Re.1/- 30 thereafter Rs.500/- & in Weekly multiples of Re.1/- 12 thereafter Rs.500/- & in Fortnightly multiples of Re.1/- 12 thereafter Rs.500/- & in Monthly multiples of Re.1/- 12 thereafter Rs.1,500/- & in Quarterly multiples of Re.1/- 4 thereafter V. Minimum Additional On continuous basis : Purchase Amount Rs. 500/- and in multiples of Re.1/- thereafter VI. Minimum On continuous basis : Redemption/ Any amount. Switch out amount VII. Tracking Error Tracking error is not applicable to the Scheme. Regular Plan – Not applicable Direct Plan – Not applicable 6VIII. Tracking Difference Tracking difference is not applicable to the Scheme. Regular Plan – Not applicable Direct Plan – Not applicable IX. Computation Of NAV NAV of Units under the Scheme shall be calculated as shown below : NAV (Rs.) = Market or Fair Value of + Current - Current Scheme's investments Assets Liabilities and Provisions No. of Units outstanding under the Scheme Detailed disclosure on computation of NAV is provided on the website of the AMC ( https://angelonemf.com/downloads). X. Asset Allocation Under normal circumstances, the asset allocation under the Scheme will be as follows: Indicative asset allocation Instruments (% of total assets) Minimum Maximum Units of Angel One Silver ETF 95 100 Cash & Cash Equivalents and Money Market instruments, Reverse repo and / or Tri-Party Repo on Government securities 0 5 and / or Treasury bills and/or units of money market / liquid schemes Cash Equivalents include Government Securities, T-Bills and Repo on Government Securities having residual maturity of less than 91 days. A portion of the net assets may be invested in Money Market Instruments permitted by SEBI / RBI to meet the liquidity requirements of the Scheme and/ or for meeting margin money requirement. 7The cumulative gross exposure through units of the underlying scheme (viz. Angel One Silver ETF), Money Market Instruments, reverse Repo and / or Tri-Party Repo on Government Securities and / or Treasury bills and/or units of money market / liquid schemes and other permitted securities/assets shall not exceed 100% of the net assets of the Scheme, as per paragraph 12.24 of the SEBI Master Circular dated June 27, 2024. As per paragraph 12.25 of the SEBI Master Circular dated June 27, 2024, cash and Cash Equivalents having residual maturity of less than 91 days shall not be considered for the purpose of calculating gross exposure limit. SEBI has vide its letter dated November 03, 2021 clarified that Cash Equivalents shall consist of Government Securities, T-Bills and Repo on Government Securities. The Scheme does not intend to invest or engage in: • Equity securities and equity related instruments • Securitised Debt • Real Estate Investment Trusts (REITs) or Infrastructure Investment Trusts (InvITs) • Fund of Fund schemes • Credit Default Swaps • Unlisted Debt Instruments • Debt Instruments with special features (AT1 and AT2 Bonds) • Debt Instruments with Structured Obligations / Credit Enhancements • Bespoke or complex debt products • Short selling of securities • Repo / Reverse Repo in corporate debt securities • Foreign Securities • Unrated instruments (except TREPS/ Government Securities/ T- Bills and other money market instruments) • Inter scheme transactions • Derivative transactions • Stock lending and borrowing Indicative Table (Actual instrument/percentages may vary subject to applicable SEBI circulars) Sr. Type of Percentage of Circular No. Instrument exposure reference 1. Mutual Fund Upto 100% of the net Regulation schemes assets of the Scheme 44(1), 8in units of the Seventh underlying fund viz. Schedule of Angel One Silver ETF the SEBI MF in conformity with the Regulations investment objective of the Scheme. Deployment of NFO proceeds In line with SEBI circular no. SEBI/HO/IMD/IMD-PoD- 1/P/CIR/2025/23 dated February 27, 2025, deployment of the funds garnered in the NFO shall be made within 30 (thirty) Business Days from the date of allotment of units. In an exceptional case, if the AMC is not able to deploy the funds in 30 Business Days, reasons in writing, including details of efforts taken to deploy the funds, shall be placed before the Investment Committee. The Investment Committee, after examining the root cause for delay, may extend the timeline by 30 Business Days. In case the funds are not deployed as per the asset allocation mentioned above and as per the aforesaid mandated plus extended timelines, the AMC shall comply with the provisions mentioned in SEBI circular no. SEBI/HO/IMD/IMD- PoD-1/P/CIR/2025/23 dated February 27, 2025. Valuation The closing price of the units of the underlying scheme viz. Angel One Silver ETF on the Stock Exchange shall be used for valuation by the Scheme. XI. Fund manager details Mr. Mehul Dama and Mr. Kewal Shah will be the designated fund managers for the Scheme. Sr. Name of Fund Managing Total No. Manager since experience (in years) 1. Mr. Mehul Dama (This is a new Over 19 years scheme) 2. Mr. Kewal Shah (This is a new Over 10 years scheme) XII. Annual Scheme The AMC has estimated that upto 1.00% (plus additional Recurring Expenses expenses as permitted under SEBI MF Regulations) of the daily net assets of the Scheme will be charged to the Scheme as expenses. For the actual current expenses being charged, Investors should refer to the website of the Mutual Fund (viz. www.angelonemf.com/daily-ter). 9Investors will bear the recurring expenses of the underlying fund (viz. Angel One Silver ETF) in addition to the recurring expenses charged by the Scheme. For detailed disclosure, kindly refer SAI. XIII. Transaction charges Transaction charges : Pursuant to the SEBI circular no. and stamp duty SEBI/HO/IMD/IMD-PoD-1/P/CIR/2025/115 dated August 08, 2025, transaction charges paid to mutual fund distributors have been discontinued effective from the date of the circular. Stamp duty : Pursuant to the notification no. S.O. 1226(E) and G.S.R. 226(E) dated March 30, 2020 issued by the Department of Revenue, Ministry of Finance, Government of India, read with Part I of Chapter IV of the notification dated February 21, 2019 issued by the Legislative Department, Ministry of Law and Justice, Government of India on the Finance Act, 2019 and Clause 10.1 of SEBI Master Circular dated May 19, 2023, a stamp duty @ 0.005% of the transaction value would be levied on applicable mutual fund transactions, with effect from July 01, 2020. Accordingly, pursuant to levy of stamp duty, the number of units allotted on purchase/ switch-in transactions to the unitholders would be reduced to that extent. Please refer to SAI for further details. XIV. Information available Investors can refer to the link (www.angelonemf.com) for the through weblink points mentioned below : (Note: The details are provided in Annexure 1. The same will be uploaded on the AMC website and exact link will be provided.) • Liquidity/listing details • NAV disclosure • Applicable timelines for dispatch of redemption proceeds etc • Breakup of Annual Scheme Recurring expenses • Definitions • Applicable risk factors • Detailed disclosures regarding the index, index eligibility criteria, methodology, index service provider, index constituents, impact cost of the constituents/ underlying fund in case of fund of funds • List of official points of acceptance - • Penalties, Pending Litigation or Proceedings, Findings of Inspections or Investigations - • Investor services 10• Portfolio Disclosure • Detailed comparative table of the existing schemes of AMC - • Scheme performance – The Scheme is a new scheme and does not have any performance track record. • Periodic Disclosures • Any disclosure in terms of Consolidated Checklist on Standard Observations • Scheme specific disclosures (as per the prescribed format) • Scheme Factsheet XV How to Apply Please refer to the SAI for detailed process (physical and online) with respect to NFO, additional/ongoing purchase, investments by NRIs (Non-Resident Indian), FPIs (Foreign Portfolio Investors) and foreign Investors, joint applications, etc. Investors can also read further details in the application form available on the website of the AMC viz. www.angelonemf.com/downloads. Please refer to the SAI and application form for the instructions. The applications for Subscription/switches can be submitted at the Official Points of Acceptance of the AMC and CAMS as provided on the website of the AMC viz. www.angelonemf.com/service-branches. Investors can also subscribe units through the website of the AMC viz. www.angelonemf.com and other digital assets, distributor / RIA platforms, Stock Exchange mechanism, Official Points of Acceptance through MF Utility, through the electronic platform of CAMS and through the MF Central website. Pursuant to paragraph 14.8 of the SEBI Master Circular dated June 27, 2024, an Investor can also subscribe to the New Fund Offer (NFO) through ASBA facility. ASBAs can be accepted only by those banks whose names appear in the list of banks as displayed by SEBI on its website www.sebi.gov.in. Kindly refer to the said link for complete details. For detailed disclosure, kindly refer SAI. XVI Where can The applications for Subscription/Redemption/switches can be applications for submitted at the Official Points of Acceptance of the AMC and subscription / CAMS as provided on the website of the AMC viz. redemption / switches www.angelonemf.com/service-branches be submitted Pursuant to clause 16.2 of the SEBI Master Circular dated June 27, 2024, units of mutual fund schemes have been permitted for transactions through registered stockbrokers of the recognised 11stock exchanges and such stockbrokers shall be considered as Official Points of Acceptance of transactions of the Mutual Fund. Investors transacting through such NSE MFSS/ BSE STAR platform and schemes which are listed on the recognised Stock Exchanges will have to additionally comply with norms/rules as prescribed by the Stock Exchange(s). Please refer to SAI for further details on transactions through stock exchange mechanism. Acceptance of financial transactions through email from non- individual investors Financial transactions of non-individual investors received through email will be accepted subject to submission of below documents: • Board Resolution or Authority Letter on the Letter Head of the entity explicitly mentioning the list of authorized officials who are authorized to transact on behalf of the entity, along with details of their designation and email id. • An undertaking that the instructions for any financial transactions sent by email by the authorized officials shall be binding upon the entity as if it were a written agreement. Mandatory quoting of bank mandate by investors As per the directives issued by SEBI, it is mandatory for applicants to mention their bank account numbers in their applications and therefore, Investors are requested to fill-up the appropriate box in the application form failing which applications are liable to be rejected. Kindly refer to below link for the list of Official Points of Acceptance of transactions for Angel One Mutual Fund : www.angelonemf.com/service-branches For detailed disclosure, kindly refer SAI. XVII Specific attribute of Not applicable the scheme (such as lock in/ duration in case of target maturity scheme/close ended schemes etc.) (as applicable) 12XVIII Special product/facility 1) Systematic Investment Plan (SIP) available during the  SIP Top Up Facility NFO and on ongoing  Any Day SIP basis  SIP Pause Facility 2) Systematic Withdrawal Plan (SWP)* 3) Systematic Transfer Plan (STP)* *Available on ongoing basis Minimum SIP & STP Instal- Minimum Amount Frequency ments (Nos.) Rs.250/- & in multiples Daily 30 of Re.1/- thereafter Rs.500/- & in multiples Weekly 12 of Re.1/- thereafter Rs.500/- & in multiples Fortnightly 12 of Re.1/- thereafter Rs.500/- & in multiples Monthly 12 of Re.1/- thereafter Rs.1,500/- & in Quarterly multiples of Re.1/- 4 thereafter Minimum SWP Minimum Amount Instal-ments Frequency (Nos.) Rs.500/- & in multiples Monthly 2 of Re.1/- thereafter Rs.1,500/- & in Quarterly multiples of Re.1/- 2 thereafter 13Rs.3,000/- & in Half-Yearly multiples of Re.1/- 2 thereafter Rs.3,000/- & in Yearly multiples of Re.1/- 2 thereafter For further details on the above, please refer to the SAI. XIX Segregated portfolio / The AMC may create a segregated portfolio of debt and Money side pocketing Market Instruments in the Scheme in case of a credit disclosure event/actual default and to deal with liquidity risk. In this regard, the term ‘segregated portfolio’ shall mean a portfolio comprising of debt or Money Market Instrument affected by a credit event / actual default that has been segregated in a mutual fund scheme and the term ‘main portfolio’ shall mean the scheme portfolio excluding the segregated portfolio. The term ‘total portfolio’ shall mean the scheme portfolio including the securities affected by the credit event / actual default. For more details, kindly refer to SAI. The Scheme under this Scheme Information Document was approved by the Directors of the AMC on October 13, 2025 and by the Directors of the Trustee on October 13, 2025. The Trustee has ensured that Angel One Silver ETF FOF approved by the Trustee is a new product offered by Angel One Mutual Fund and is not a minor modification of any existing scheme/fund/product. Notwithstanding anything contained in this Scheme Information Document, the provisions of the SEBI (Mutual Funds) Regulations, 1996 and the guidelines there under shall be applicable. 14ANNEXURE - I SCHEME RELATED DISCLOSURES FOR SCHEMES COVERED UNDER MF LITE FRAMEWORK Liquidity / listing details The Scheme offers Units for Subscription and Redemption at NAV based prices on each Business Days on an ongoing basis. NAV disclosure The AMC will calculate and disclose the first NAV within 5 Business Days from the date of allotment. Subsequently, the NAV will be calculated and disclosed at the close of every Business Day. NAVs will be determined for every Business Day except in special circumstances and will be calculated upto four decimal places. NAVs of the Scheme shall be made available on the website of AMFI (www.amfiindia.com) and the Mutual Fund (www.angelonemf.com) by 10.00 a.m. on the following Business Day. The NAVs shall also be available on the call free number 1800-209-0231 and on the website of the Registrar CAMS (www.camsonline.com). In case the NAVs are not available before the commencement of Business Hours on the following day due to any reason, the AMC shall issue a press release giving reasons for the delay and explain when it would be able to publish the NAVs. Further, the AMC will extend facility of sending latest available NAVs to unitholders through SMS, upon receiving a specific request in this regard. Illustration on computation of NAV : Market or Fair Value of Scheme’s investments : Rs. 10,000,000; Current assets of the Scheme : Rs. 2,500,000; Current Liabilities and Provisions : Rs. 1,500,000; No. of Units outstanding : 500,000. Thus, the NAV will be calculated as: NAV = Rs. 10,000,000 + Rs. 2,500,000 - Rs. 1,500,000 500,000 Therefore, the NAV of the Scheme is Rs. 22/-. 15Computation of Repurchase Price - If the Applicable NAV is Rs. 10, Exit Load is 2% then Redemption price will be Rs. 10* (1-0.02) = Rs. 9.80. The Redemption Price will not be lower than 95% of the NAV. For details on policies related to computation of NAV, rounding off, procedure in case of delay in disclosure of NAV, etc. please refer to SAI. Applicable timelines Dispatch of Redemption proceeds: The Fund shall dispatch the Redemption proceeds within 3 (three) Business Days from the date of acceptance of valid Redemption request at any of the Official Points of Acceptance of transactions. Further, Investors may note that in case of exceptional scenarios as prescribed by AMFI vide its communication no. AMFI/ 35P/ MEM- COR/ 74 / 2022-23 dated January 16, 2023 read with clause 14.2 of SEBI Master Circular dated June 27, 2024, the AMC may follow the additional timelines as prescribed. In case the Redemption proceeds are not made within 3 Business Days from the date of Redemption or Repurchase, interest will be paid @15% per annum or such other rate from the 4th day onwards, as may be prescribed by SEBI from time to time. Please refer to the SAI for details on exceptional scenarios. Breakup of Annual Scheme These are the fees and expenses for operating the Scheme. These Recurring expenses expenses include Investment Management and Advisory Fee charged by the AMC, Registrar and Transfer Agent’s fee, marketing and selling costs etc. as given in the table below. The AMC has estimated that upto 1.00% (plus additional expenses as permitted under SEBI MF Regulations) of the daily net assets of the Scheme will be charged to the Scheme as expenses. For the actual current expenses being charged, Investors should refer to the website of the Mutual Fund (viz. www.angelonemf.com/daily-ter). Expense Head % p.a. of daily Net Assets (Estimated p.a.) Investment Management & Advisory Fee Upto 1.00% Audit fees/fees and expenses of trustees Custodial Fees Registrar & Transfer Agent Fees including cost of providing account statements / IDCW / Redemption cheques/ warrants Marketing & selling expenses including 16Agents’ commission and statutory advertisement Licensing fees Costs related to Investor communications Costs of fund transfer from location to location Brokerage & transaction cost pertaining to distribution of units Goods & Services Tax on expenses other than investment and advisory fees Brokerage and transaction cost (including GST) over and above 12 bps for cash trades Other Expenses* Maximum Total Expense Ratio (TER) Upto 1.00% permissible under Regulation 52 (6)(b) Additional expenses for gross new inflows Upto 0.30% from specified Investors and cities under Regulation 52 (6A)(b) * As permitted under Regulation 52 of the SEBI MF Regulations or such other basis as specified by SEBI from time to time. The above expenses are fungible within the overall maximum limit prescribed under SEBI MF Regulations, which means there will be no internal sub-limits on expenses and the AMC is free to allocate them within the overall TER. Investors will bear the recurring expenses of the underlying fund (viz. Angel One Silver ETF) in addition to the recurring expenses charged by the Scheme. Direct Plan shall have a lower expense ratio excluding distribution expenses, commission, etc. as compared to the Regular Plan and no commission for distribution of Units will be paid/ charged under Direct Plan. All fees and expenses charged in a Direct Plan (in percentage terms) under various heads including the investment and advisory fee shall not exceed the fees and expenses charged under such heads in Regular Plan. Brokerage and transaction costs (inclusive of GST) which are incurred for the purpose of execution of trades, shall be charged to the Scheme as per Regulation 52(6A)(a) of SEBI MF Regulations not exceeding 0.12 per cent in case of cash market transactions. With effect from April 1, 2023, to align with Indian Accounting Standards requirement, transactions cost incurred for the purpose of execution of trades are expensed out (viz. charged to Revenue Account instead of Capitalization 17(i.e. forming part of cost of investment)). Any payment towards brokerage and transaction cost, over and above the said 0.12 percent and 0.05 percent for cash market transactions may be charged to the Scheme within the maximum limit of Total Expense Ratio (TER) as prescribed under Regulation 52 of the SEBI MF Regulations. All Scheme related expenses including commission paid to distributors, by whatever name it may be called and in whatever manner it may be paid, shall necessarily be paid from the Scheme only within the regulatory limits and not from the books of the AMC, its associates, Sponsor, Trustee or any other entity through any route. The recurring expenses of the Scheme (including the Investment Management and Advisory Fees) shall be as per the limits prescribed under the SEBI (MF) Regulations. These are as follows: The TER of the Scheme including weighted average of the total expense ratio levied by the underlying scheme shall not exceed 1.00 per cent of the daily net assets of the Scheme. Provided that the total expense ratio to be charged over and above the weighted average of the total expense ratio of the underlying scheme shall not exceed two times the weighted average of the total expense ratio levied by the underlying scheme, subject to the overall ceilings as stated above. The total expenses of the Scheme including the investment management and advisory fee shall not exceed the limit stated in Regulation 52(6) of the SEBI (MF) Regulations and amended thereto. The AMC may charge Goods and Services Tax (“GST”) on investment and advisory fees to the Scheme of the Mutual Fund in addition to the maximum limit of total expenses ratio as prescribed in Regulation 52 of the Regulations, whereas GST on other than investment and advisory fees, if any, shall be borne by the Scheme within the maximum limit as per regulation 52 of the SEBI MF Regulations. Expenses not exceeding 0.30 per cent of the daily net assets of the Scheme shall be charged to the Scheme, if the new inflows from retail Investors from B30 cities as specified by SEBI from time to time are at least: (i) 30 per cent of the gross new inflows from retail Investors from B30 cities into the Scheme, or; (ii) 15 per cent of the average assets under management (year to date) of the Scheme, whichever is higher. Provided that if inflows from retail Investors from B30 cities are less 18than the higher of the above, such expenses on daily net assets of the Scheme shall be charged on proportionate basis. Provided further that expenses charged under this paragraph shall be utilised for distribution expenses incurred for bringing inflows from retail Investors from B30 cities. Provided further that amount incurred as expense on account of inflows from retail Investors from B30 cities shall be credited back to the Scheme in case the said inflows are redeemed within a period of one year from the date of investment. For the above purposes, ‘B30 cities’ shall be beyond Top 30 cities as at the end of the previous financial year as communicated by AMFI. Retail Investors would mean individual Investors from whom inflows into the Scheme would amount upto Rs. 2,00,000/- per transaction. (Note - SEBI has vide its letter no. SEBI/HO/IMD-SEC- 3/P/OW/2023/5823/1 dated February 24, 2023 and AMFI letter dated No. 35P/ MEM-COR/ 85-a/ 2022-23 dated March 02, 2023, directed AMCs to keep B-30 incentive structure in abeyance with effect from March 01, 2023 till further notice.) The AMC shall adhere to the provisions of Chapter 10 of the SEBI Master Circular dated June 27, 2024 and various guidelines specified by SEBI as amended from time to time, with reference to charging of fees and expenses. Expenses shall be charged / borne in accordance with the regulatory requirements as may be prevailing from time to time. Accordingly : a. All Scheme related expenses including commission paid to distributors, shall be paid from the Scheme only within the regulatory limits and not from the books of the AMC, its associates, Sponsor, Trustee or any other entity through any route. Provided that, such expenses that are not specifically covered in terms of Regulation 52(4) can be paid out of AMC books at actual or not exceeding 2 bps of the AUM of the Scheme, whichever is lower. b. The Fund / the AMC shall adopt full trail model of commission in the Scheme, without payment of any upfront commission or upfronting of any trail commission, directly or indirectly, in cash or kind, through sponsorships, or any other route. c. All fees and expenses charged in a Direct Plan (in percentage terms) under various heads including the investment and advisory fee shall not exceed the fees and expenses charged under such heads in Regular Plan. d. No pass back, either directly or indirectly, shall be given by the Fund / the AMC / Distributors to the Investors. e. List of such miscellaneous expenses as specified/amended by 19AMFI/SEBI from time to time. Illustration in returns between Regular and Direct Plan Particulars Regular Plan Direct Plan Amount invested at the beginning 10,000 10,000 of the year (Rs.) Returns before Expenses (Rs.) 1,500 1,500 Expenses other than Distribution 150 150 Expenses (Rs.) Distribution Expenses (Rs.) 50 - Returns after Expenses at the end 1,300 1,350 of the year (Rs.) Returns 13.00% 13.50% Notes : • The purpose of the above illustration is purely to explain the impact of expense ratio charged to the Scheme and should not be construed as providing any kind of investment advice or guarantee of returns on investments. • It is assumed that the expenses charged are evenly distributed throughout the year. The expenses of the Direct Plan under the Scheme may vary with that of the Regular Plan under the Scheme. • Calculations are based on assumed NAVs, and actual returns on your investment may be more, or less. • Any tax impact has not been considered in the above example, in view of the individual nature of the tax implications. Each Investor is advised to consult his or her own financial advisor. For the actual current expenses being charged to the Scheme, the Investor should refer to the website of the Mutual Fund at www.angelonemf.com/daily-ter. Any change in the expense ratio will be communicated to the Unitholders through notice via SMS / e-mail at least three working days prior to the effective date of change. Such notice of change in TER shall also be updated on the AMC website at least three working days prior to effecting such change. TER details shall be available from the first NAV date at the following link: Link for last 6 months and Daily TER : www.angelonemf.com/daily-ter Link for Scheme factsheet: www.angelonemf.com/downloads Definitions Please refer the following link for Definitions/Interpretations : www.angelonemf.com/downloads 20Risk factors (i) Risks relating to investing in the Scheme : (a) This being a Fund of Funds scheme, Investors will bear the expense ratio of the underlying scheme in addition to the expense ratio of the Scheme. (b) The Scheme’s performance may depend upon the performance of the underlying scheme. Any change in the investment policies or the fundamental attributes of the underlying scheme could affect the performance of the Scheme. (c) The liquidity of the Scheme’s investment may be restricted by trading volumes, transfer process and settlement periods. It may also be affected by the liquidity of the underlying ETF units. The liquidity for the Silver ETF units on the stock exchanges may be low and there might be an impact cost for liquidating the units on the exchanges. However, Authorised Participants are appointed for the underlying ETF to ensure that the market price of units is nearer to the NAV of the underlying Silver ETF units. (d) The portfolio disclosure of the Scheme will be limited to providing the particulars of the underlying ETF where the Scheme has invested and will not include the investments made by the underlying ETF. (e) The closing price of the units of the underlying ETF on stock exchange shall be used for valuation by the Scheme. In case the underlying ETF is not traded on any particular business day, then the NAV of the Scheme shall be derived based on NAV of the underlying ETF in accordance with the Valuation Policy. Any delay in declaration of NAV of the underlying fund may result in delay of the computation of the NAV of the Scheme. (f) The Scheme will subscribe/redeem directly with Fund according to the value equivalent to unit creation size as applicable for the underlying scheme subject to minimum execution value greater than Rs.25 crore or crores or such other amount as may be specified by SEBI from time to time. When Subscriptions/Redemptions received are not adequate enough for transaction directly with Fund, the Scheme will buy/sell units of the underlying scheme directly on the stock exchange without waiting for additional Subscription/Redemption. (g) The Scheme may invest in money market instruments from time to time, as per the asset allocation pattern, which will have a different return profile compared to silver returns profile. (h) As the Scheme is not actively managed, the underlying investments may be affected by a general decline in the domestic price of silver and other instruments invested in, by the underlying scheme. The Scheme will invest in the underlying scheme (viz. Angel One Silver ETF) and the AMC does not attempt to take defensive positions in declining markets. Further, the fund manager(s) do not make any 21judgment about the investment merit nor shall attempt to apply any economic, financial or market analysis. (ii) Risks relating to investing in underlying scheme (viz. Angel One Silver ETF) : (1) Risks associated with the Scheme being an Exchange Traded Fund: a) Absence of prior active market: Although the Units of the scheme will be listed on the Stock Exchange for trading, there can be no assurance that an active secondary market will develop or be maintained. b) Lack of market liquidity: Trading in Units of the scheme on the Stock Exchange on which it is listed may be halted because of market conditions or for reasons that, in the view of the concerned Stock Exchange or market regulator, trading in the ETF Units is inadvisable. In addition, trading in the Units of the scheme may be subject to trading halts caused by extraordinary market volatility pursuant to ‘circuit breaker’ rules. There can be no assurance that the requirements of the concerned Stock Exchange necessary to maintain the listing of the Units of the scheme will continue to be met or will remain unchanged. c) Units of the scheme may trade at prices other than NAV: Units of the scheme may trade above or below its NAV. The NAV of the scheme may fluctuate with changes in the market value of a scheme’s holdings. The trading prices of Units of the scheme will fluctuate in accordance with changes in its NAVs as well as market supply and demand. However, given that the scheme can be created / redeemed in Creation Units, directly with the Fund, large discounts or premiums to the NAVs will not sustain due to arbitrage possibility available. d) Regulatory Risk: Any changes in trading regulations by the Stock Exchange or SEBI may affect the ability of the Market Maker to arbitrage resulting into wider premium/discount to NAV. Although the scheme is proposed to be listed on the Exchange, the AMC and the Trustee will not be liable for delay in listing of Units of the scheme on Exchange / or due to connectivity problems with the Depositories due to the occurrence of any event beyond their control. e) Right to limit Redemption: The Trustee, in the general interest of the Unitholders of the scheme offered under the scheme’s SID and keeping in view of the unforeseen circumstances/unusual market conditions, may limit the total number of Units which can be redeemed on any Business Day depending on the total “Saleable Underlying Stock” available with the Fund. f) Redemption Risk: The Unitholders may note that even though the underlying scheme is an open ended scheme, the scheme would 22ordinarily repurchase Units in Creation Unit Size. Thus, Unit holdings less than the Creation Unit Size can normally only be sold through the secondary market unless no quotes are available on the Exchange for 3 trading days consecutively. g) Though the scheme will be listed on the stock exchange, there is no assurance that an active secondary market will develop or be maintained. h) Investors may note that even though this is an open-ended scheme, they will have to buy or sell Units of the scheme on the Stock Exchanges where these Units are listed for liquidity at the market price, subject to the rules and regulations of the Exchange. Buying and selling units on the Stock Exchange requires the investor to engage the services of a broker and are subject to payment of margins as required by the Stock Exchange/broker, payment of brokerage, securities transactions tax and such other costs. i) The market price of the Units of the scheme, like any other listed security, is largely dependent on two factors, viz. (1) the intrinsic value of the Unit (or NAV) and (2) demand and supply of Units in the market. Sizeable demand or supply of the Units on the Stock Exchange may lead to market price of the Units to quote at premium or discount to NAV. However, since the eligible investors can transact with the AMC for Units in the Creation Unit Size, there should not be a significant variance from the NAV. Hence, the price of the scheme is less likely to hold significant variance (large premium or discount) from the latest declared NAV all the time. j) The Units will be issued only in demat form through Depositories. The records of the Depository are final with respect to the number of Units available to the credit of Unit holder. Settlement of trades, repurchase of Units by the Mutual Fund depends on the confirmations to be received from Depository(ies) on which the AMC has no control. (2) Specific risks for the underlying scheme a) The NAV of the units is closely related to the value of silver held by the scheme. The value (price) of silver may fluctuate for several reasons and all such fluctuations will result in changes in the NAV of units under the scheme. The factors that may effect the price of silver, among other things, include demand and supply for silver in India and in the global market, Indian and Foreign exchange rates, interest rates, inflation trends, trading in silver as commodity, legal restrictions on the movement / trade of silver that may be imposed by RBI, Government of India or countries that supply or purchase silver to/from India, trends and restrictions on import/export of silver jewellery in and out of India, etc. b) Counter party Risk: There is no Exchange for physical silver in India. 23The Fund may have to buy or sell silver from the open market, which may lead to counter party risks for the Fund for trading and settlement. c) Liquidity Risk: The scheme has to sell silver only to designated bankers / traders who are authorized to buy silver. Though, there are adequate numbers of players to whom the scheme can sell silver, the scheme may have to resort to distress sale of silver if there is no or low demand for silver to meet its cash needs of redemption or expenses. Liquidity risks may arise due to issues related to the supply chain which affects the availability of silver and also due to seasonality of demand and supply and/or volatile prices. d) Indirect Taxation - For the valuation of silver by the scheme, indirect taxes like customs duty etc. would also be considered. Hence, any change in the rates of indirect taxation / applicable taxes would affect the valuation of the scheme. e) Currency Risk: The formula for determining NAV of the units is based on the imported (landed) value of silver. The landed value of silver is computed by multiplying international market price by US dollar value. The value of silver or NAV, therefore will depend upon the conversion value of US dollar into Indian rupee and attracts all the risks attached to such conversion. f) Regulatory Risk: Any changes in trading regulations by the stock exchange (s) or SEBI may affect the ability of Market Makers to arbitrage resulting into wider premium/ discount to NAV. Any changes in the regulations relating to import and export of silver or silver jewellery (including customs duty, GST and any such other statutory levies) may affect the ability of the scheme to buy/sell silver against the purchase and redemption requests received. g) Asset Class Risk: The returns from physical silver in which the scheme invests may underperform returns from the securities or other asset classes. h) Physical silver: There is a risk that part or all of the scheme's silver could be lost, damaged or stolen. Access to the scheme's silver could also be restricted by natural events or human actions. Any of these actions may have adverse impact on the operations of the scheme and consequently on investment in units. i) Impact cost risk: If the scheme is heavily subscribed and as all the subscription amount has to be deployed in silver over a short period of time, there could be a surge in the demand for silver which in turn may lead to increase in cost of acquiring silver. However, as silver can be freely imported, the demand generated, if heavily subscribed, by this scheme may get transferred to global markets and the demand of this scheme may not have any significant impact on the global level demand. j) Passive investments : As the scheme proposes to invest not less 24than 95% of the net assets in silver and silver related instruments, the scheme is a passively managed scheme and provides exposure to silver and tracking its performance as closely as possible. The Scheme’s performance may be affected by a general price decline in the silver prices. The Scheme will primarily invest in the physical silver regardless of their investment merit. The Mutual Fund does not attempt to take defensive positions in declining markets. k) Tracking error may have an impact on the performance of the Scheme. However, the AMC will endeavour to keep the tracking error as low as possible. (3) Risk Factors Associated with Investments in Exchange Traded Commodity Derivatives (ETCDs) 1) An exchange traded commodity derivative is a derivative instrument that mimics the price movements of an underlying commodity, allowing an investor exposure to the commodity without physical purchase. 2) Derivative products are leveraged instruments and can provide disproportionate gains as well as disproportionate losses to the investor. Execution of investment strategies depends upon the ability of the fund manager(s) to identify such opportunities which may always not be available. Identification and execution of the strategies to be pursued by the fund manager(s) involve uncertainty and decision of fund manager(s) may not always be profitable. No assurance can be given that the fund manager(s) will be able to identify or execute such strategies. 3) Liquidity Risk: While ETCDs that are listed on an exchange carry lower liquidity risk, the ability to sell these contracts is limited by the overall trading volume on the exchanges. The liquidity of the schemes’ investments is inherently restricted by trading volumes of the ETCD contracts in which it invests. Additionally, change in margin requirements or intervention by government agencies to reduce overall volatility in the underlying commodity could lead to adverse impact on the liquidity of the ETCD. 4) Price risk: ETCDs are leveraged instruments hence, a small price movement in the underlying security could have a large impact on their value. Also, the market for ETCDs is nascent in India hence, arbitrages can occur between the price of the physical commodity and the ETCD, due to a variety of reasons such as technical issues and volatile movement in the price of the physical good. This can result in mispricing and improper valuation of investment decisions as it can be difficult to ascertain the amount of the arbitrage. 5) Settlement risk: ETCDs can be settled either through the exchange or physically. The inability to sell ETCDs held in the Schemes’ portfolio in the exchanges due to the extraneous factors may impact 25liquidity and would result in losses, at times, in case of adverse price movement. Wherein the underlying commodity is physically delivered in order to settle the derivative contract, such settlement could get impacted due to various issues, such as logistics, Government policy for trading in such commodities. (4) Settlement Risk: In certain cases, settlement periods may be extended significantly by unforeseen circumstances. The inability of the scheme to make intended securities purchases due to settlement problems could cause the scheme to miss certain investment opportunities as in certain cases, settlement periods may be extended significantly by unforeseen circumstances. Similarly, the inability to sell securities held in the scheme portfolio may result, at times, in potential losses to the scheme, and there can be a subsequent decline in the value of the securities held in the scheme portfolio. (5) Volatility Risk: The Derivative markets are volatile and the value of Derivative contracts may fluctuate dramatically from day to day. This volatility may cause the value of investment in the scheme to decrease. (6) Right to limit Redemptions: The Trustee, in the general interest of the Unit holders of the scheme offered in this Document and keeping in view the unforeseen circumstances / unusual market conditions, may limit the total number of Units which can be redeemed on any Business Day. The same shall be in accordance with paragraph 1.12 of the SEBI Master Circular dated June 27, 2024. (7) Risks associated with investing in Money Market Instruments: • Price-Risk or Interest-Rate Risk: Fixed income securities such as bonds, debentures and Money Market Instruments run price-risk or interest-rate risk. Generally, when interest rates rise, prices of existing fixed income securities fall and when interest rates drop, such prices increase. The extent of fall or rise in the prices is a function of the existing coupon, days to maturity and the increase or decrease in the level of interest rates. • Credit Risk: In simple terms this risk means that the issuer of a debenture/bond or a Money Market Instrument may default on interest payment or even in paying back the principal amount on maturity. Even where no default occurs, the price of a security may go down because the credit rating of an issuer goes down. It must, however, be noted that where the scheme has invested in Government Securities, there is no credit risk to that extent. 26Different types of securities in which the scheme would invest as per its asset allocation pattern, carry different levels and types of risk. Accordingly, the scheme’s risk may increase or decrease depending upon its investment pattern. E.g. commercial papers carry a higher amount of risk than Government Securities. Further, commercial papers which are A1+ rated are comparatively less risky than those which are B1+ rated. • Re-investment Risk: Investments in fixed income securities may carry re-investment risk as interest rates prevailing on the interest or maturity due dates may differ from the original coupon of the security. Consequently, the proceeds may get invested at a lower rate. • Liquidity Risk: Due to the evolving nature of the fixed income market, there may be an increased risk of liquidity risk in the portfolio from time to time. Investments in money market / liquid schemes will also be subject to the above risks. (8) Risks relating to portfolio rebalancing : In the event that the asset allocation of the scheme deviates from the ranges as provided in the asset allocation table in this SID, then the Fund Manager will rebalance the portfolio of the scheme to the position indicated in the asset allocation table. (9) Risk factors associated with investing in Derivatives: The scheme may use Derivatives instruments like stock/index futures or other Derivative instruments for the purpose of portfolio balancing, as permitted under the applicable regulations and guidelines. Use of Derivatives requires an understanding of not only the underlying instrument but also of the Derivative itself. Usage of Derivatives will expose the scheme to certain risks inherent to such Derivatives. Derivative products are leveraged instruments and can provide disproportionate gains as well as disproportionate losses to the Investor. Execution of such strategies depends upon the ability of the fund manager to identify such opportunities. Identification and execution of the strategies to be pursued by the fund manager involve uncertainty and the decision of fund manager may not always be profitable. No assurance can be given that the fund manager will be able to identify or execute such strategies. The risks associated with the use of Derivatives are different from or possibly greater than, the risks associated with investing directly in securities and other traditional investments. The specific risk factors arising out of a Derivative strategy used by the 27fund manager are given below: • Lack of opportunity available in the market; • The risk of mispricing or improper valuation and the inability of Derivatives to correlate perfectly with underlying assets, rates and indices. • Execution Risk: The prices which are seen on the screen need not be the same at which execution will take place. • Basis Risk: This risk arises when the Derivative instrument used to hedge the underlying asset does not match the movement of the underlying asset being hedged. • Exchanges could raise the initial margin, variation margin or other forms of margin on Derivative contracts, impose one sided margins or insist that margins be placed in cash. All of these might force positions to be unwound at a loss and might materially impact returns. (iii) Settlement Risk: In certain cases, settlement periods may be extended significantly by unforeseen circumstances. The inability of the Scheme to make intended securities purchases due to settlement problems could cause the Scheme to miss certain investment opportunities as in certain cases, settlement periods may be extended significantly by unforeseen circumstances. Similarly, the inability to sell securities held in the Scheme portfolio may result, at times, in potential losses to the Scheme, and there can be a subsequent decline in the value of the securities held in the Scheme portfolio. (iv) Right to Limit Redemptions: The Trustee, in the general interest of the Unit holders of the Scheme offered in this Document and keeping in view the unforeseen circumstances / unusual market conditions, may limit the total number of Units which can be redeemed on any Business Day. The same shall be in accordance with paragraph 1.12 of the SEBI Master Circular dated June 27, 2024. (v) Risks associated with investing in Money Market Instruments: • Price-Risk or Interest-Rate Risk: Fixed income securities such as bonds, debentures and Money Market Instruments run price-risk or interest-rate risk. Generally, when interest rates rise, prices of existing fixed income securities fall and when interest rates drop, such prices increase. The extent of fall or rise in the prices is a function of the existing coupon, days to maturity and the increase or decrease in the level of interest rates. • Credit Risk: In simple terms this risk means that the issuer of a debenture/bond or a Money Market Instrument may default on 28interest payment or even in paying back the principal amount on maturity. Even where no default occurs, the price of a security may go down because the credit rating of an issuer goes down. It must, however, be noted that where the Scheme has invested in Government Securities, there is no credit risk to that extent. Different types of securities in which the Scheme would invest as per its asset allocation pattern, carry different levels and types of risk. Accordingly, the Scheme’s risk may increase or decrease depending upon its investment pattern. E.g. commercial papers carry a higher amount of risk than Government Securities. Further, commercial papers which are A1+ rated are comparatively less risky than those which are B1+ rated. • Re-investment Risk: Investments in fixed income securities may carry re-investment risk as interest rates prevailing on the interest or maturity due dates may differ from the original coupon of the security. Consequently, the proceeds may get invested at a lower rate. • Liquidity Risk: Due to the evolving nature of the fixed income market, there may be an increased risk of liquidity risk in the portfolio from time to time. Investments in money market / liquid schemes will also be subject to the above risks. (vi) Risks relating to portfolio rebalancing : In the event that the asset allocation of the Scheme deviates from the ranges as provided in the asset allocation table in this SID, then the Fund Manager will rebalance the portfolio of the Scheme to the position indicated in the asset allocation table. (vii) Risks associated with segregated portfolio: • Liquidity risk – A segregated portfolio is created when a credit event / default occurs at an issuer level in the Scheme. This may reduce the liquidity of the security issued by the said issuer, as demand for this security may reduce. This is also further accentuated by the lack of secondary market liquidity for corporate papers in India. As per SEBI norms, the Scheme will be closed for Redemption and Subscriptions until the segregated portfolio is created, running the risk of Investors being unable to redeem their investments. However, it may be noted that the proposed segregated portfolio is required to be formed within one day from the occurrence of the credit event. Investors may note that no Redemption and Subscription shall be allowed in the segregated portfolio. However, in order to facilitate exit 29to Unit holders in segregated portfolio, the AMC shall list the units of the segregated portfolio on a recognized stock exchange within 10 working days of creation of segregated portfolio and also enable transfer of such units on receipt of transfer requests. For the units listed on the Exchange, it is possible that the market price at which the units are traded may be at a discount to the NAV of such Units. There is no assurance that an active secondary market will develop for units of segregated portfolio listed on the Stock Exchange. This could limit the ability of the Investors to resell them. • Valuation risk - The valuation of the securities in the segregated portfolio is required to be carried out in line with the applicable SEBI guidelines. However, it may be difficult to ascertain the fair value of the securities due to absence of an active secondary market and difficulty to price in qualitative factors. (viii) Risks associated with investing in Government of India securities: • Market liquidity risk - Even though the Government of India securities market is more liquid compared to other debt instruments, on certain occasions, there could be difficulties in transacting in the market due to extreme volatility leading to constriction in market volumes. Also, the liquidity of the Scheme may suffer in case the relevant guidelines issued by Reserve Bank of India undergo any adverse changes. • Interest rate risk - While Government of India securities generally carry relatively minimal credit risk since they are issued by the Government of India, they do carry price risk depending upon the general level of interest rates prevailing from time to time. Generally, when interest rates rise, prices of fixed income securities fall and when interest rates decline, the prices of fixed income securities increase. The extent of fall or rise in the prices is a function of the coupon rate, days to maturity and the increase or decrease in the level of interest rates. The price-risk is not unique to Government of India securities and exists for all fixed income securities. Therefore, their prices tend to be influenced more by movement in interest rates in the financial system than by changes in the Government's credit rating. By contrast, in the case of corporate or institutional fixed income securities, prices are influenced by their respective credit standing as well as the general level of interest rates. (ix) Risks associated with investing in TREPS Segments : 30As a member of the securities and TREPS segments of the Clearing Corporation of India (CCIL), all transactions of the Mutual Fund in Government Securities and in TREPS segments will be settled centrally through the infrastructure and settlement systems provided by CCIL, thus reducing the settlement and counterparty risks considerably for transactions in the said segments. The members of CCIL are required to contribute an amount as communicated by CCIL from time to time to the default fund maintained by CCIL as a part of the default waterfall (a loss mitigating measure of CCIL in case of default by any member in settling transactions routed through CCIL). The Mutual Fund will be exposed to the extent of its contribution to the default fund of CCIL at any given point in time. In the event that the default waterfall is triggered and the contribution of the Mutual Fund is called upon to absorb settlement/default losses of another member by CCIL, the Scheme may lose an amount equivalent to its contribution to the default fund allocated to the Scheme on a pro-rata basis. (x) Risks associated with investing in securitized debt: The Scheme will not invest in securitized debt. (xi) Risks associated with investing in Foreign Securities: The Scheme will not invest in Foreign Securities. (xii) Risks associated with short selling: The Scheme will not engage in short selling of securities. Risk Mitigation Strategies : The Scheme will endeavor to manage risks associated with investing in the underlying scheme and money market securities by following a holistic risk management strategy. The risk control process involves identifying and measuring risks through various risk measurement tools. Risks associated with investments in money market securities Risk Description Risk Mitigants/management strategy 31Market Risk / Interest Rate Risk The Scheme may invest in As with all fixed income Money Market Instruments securities, changes in interest having relatively shorter rates may affect the Scheme’s maturity thereby mitigating the Net Asset Value as the prices of price volatility due to interest securities generally increase as rate changes generally interest rates decline and associated with long-term generally decrease as interest securities. rates rise. Prices of long-term securities generally fluctuate more in response to interest rate changes than do short- term securities. Indian debt markets can be volatile leading to the possibility of price movements up or down in fixed income securities and thereby to possible movements in the NAV. Liquidity risk or Marketability The Scheme may invest in Risk Money Market Instruments This refers to the ease with having relatively shorter which a security can be sold at maturity, which have low or near to its valuation yield- to liquidity risk, as compared to maturity (YTM). medium to long maturity securities. Credit Risk Management analysis may be Credit risk or default risk refers used for identifying company to the risk that an issuer of a specific risks. Management’s fixed income security may past track record may also be default (i.e., will be unable to studied. Preference will be make timely principal and towards high quality interest payments on the instruments. security). While these measures are expected to mitigate the above risks to a large extent, there can be no assurance that these risks would be completely eliminated. Index methodology/ Details of The Scheme will invest in units of the underlying scheme viz. Angel One underlying fund Silver ETF as per the asset allocation mentioned above and will be benchmarked against the domestic price of silver. Details of Benchmark, Investment Objective, Investment Strategy, TER, AUM, Year wise performance, Top 10 Holding/ link to Top 10 holding of the underlying fund viz. Angel One Silver ETF 32Investors can refer to the below link for the above information on the underlying fund as and when applicable (www.angelonemf.com/downloads). List of official points of Please refer to the link (www.angelonemf.com/service-branches). acceptance Penalties, Pending Litigation or Please refer to the link (https://cms.angelonemf.com/amc-cms/wp- Proceedings, Findings of content/uploads/formidable/8/Penalties-and-pending-litigation-1.pdf ). Inspections or Investigations For Which Action May Have Been Taken Or Is In The Process Of Being Taken By Any Regulatory Authority Investor services Contact details for general service requests and for compliant resolution: E-mail : support@angelonemf.com Toll-Free : 1800-209-0231 Details of Investor Relation Officer : Name : Mr. Murali Ramasubramanian Address and Contact Number : Angel One Asset Management Company Limited, G-1, Ground floor, Ackruti Trade Centre, Road No. 7, Kondivita, MIDC, Andheri (East), Mumbai – 400 093. Tel. No. : +91-22-6977 7777 Portfolio Disclosure Portfolio disclosure The AMC shall disclose portfolio (along with ISIN) as on the last day of the month for the Scheme on the websites of the AMC (www.angelonemf.com) and AMFI (www.amfiindia.com) within 10 days from the close of each month in a user-friendly and downloadable spreadsheet format. In case of unitholders whose e-mail addresses are registered with the Fund, the portfolios disclosed as above shall be sent to the Unit holders via email. The Unit holders whose e-mail address are not registered with the Fund are requested to update / provide their e-mail address to the Fund for updating the database. Investors can refer to the below link for any information on portfolio disclosure of the Scheme as and when applicable (www.angelonemf.com/downloads). Portfolio turnover rate (times) and policy Not applicable. 33Detailed comparative table of The existing FOF scheme(s) of the Mutual Fund is as follows : the existing schemes of AMC  Angel One Gold ETF FOF For details of the scheme differentiation please visit : (www.angelonemf.com/downloads). Scheme performance The Scheme is a new scheme and does not have any performance track record. Periodic Disclosures such as Portfolio disclosures half yearly disclosures, half The AMC shall disclose portfolio (along with ISIN) as on the last day of yearly results, annual report the month for the Scheme on the websites of the AMC (www.angelonemf.com) and AMFI (www.amfiindia.com) within 10 days from the close of each month in a user-friendly and downloadable spreadsheet format. In case of unitholders whose email addresses are registered with the Fund, the portfolios disclosed as above shall be sent to the unitholders via email. The unitholders whose e-mail address are not registered with the Fund are requested to update / provide their email address to the Fund for updating the database. Annual Report The scheme wise Annual Report or an abridged summary thereof shall be mailed to all unitholders within four months from the date of closure of the relevant account’s year i.e. 31st March each year, whose e-mail address is registered with the Fund. The physical copies of the scheme wise Annual Report will be sent to those unitholders who have opted-in to receive physical copies, and the same will also be made available to the unitholders at the registered office of the AMC. An advertisement shall also be published in all India edition of at least two daily newspapers, one each in English and Hindi, disclosing the hosting of the scheme wise annual report on the websites of the AMC and AMFI and the modes such as SMS, telephone, email or written request (letter), etc. through which Unit holders can submit a request for a physical or electronic copy of the scheme wise annual report or abridged summary thereof. The physical copy of the scheme wise annual report or abridged summary shall be made available to the Investors at the registered office of the AMC. A link of the Scheme’s annual report shall be displayed prominently on the website of the Mutual Fund (www.angelonemf.com) and that of AMFI (www.amfiindia.com). The AMC shall also provide a physical copy of abridged summary of the annual report, without charging any cost, on specific request received from the unitholder. 34Risk-o-meter In accordance with paragraph 5.16 of SEBI Master Circular dated June 27, 2024, the AMC shall disclose risk-o-meter of the Scheme and benchmark while disclosing the performance of the Scheme vis-à-vis benchmark and details of the Scheme portfolio including the Scheme risk-o-meter, name of benchmark and risk-o- meter of benchmark while communicating the fortnightly, monthly and half-yearly statement of Scheme portfolio via email. Risk-o-meter of the Scheme shall be evaluated on a monthly basis and shall be disclosed along with Scheme portfolio disclosure on the website of the Mutual Fund (www.angelonemf.com) and that of AMFI (www.amfiindia.com) within 10 days from the close of each month. The AMC shall also disclose the risk level of its schemes as on March 31 of every year, along with number of times the risk level has changed over the year, on its website and on AMFI’s website. Any change in risk-o-meter of the Scheme shall be communicated by way of notice-cum-addendum and by way of an e-mail or SMS to the unitholders of the Scheme. Scheme Summary Document The scheme summary document for all the schemes of the Mutual Fund shall be disclosed on the websites of the AMC (www.angelonemf.com), AMFI (www.amfiindia.com) and Stock Exchanges, containing details of the schemes including but not limited to scheme features, Fund Manager details, investment details, investment objective, expense ratios, portfolio details, etc. in 3 data formats i.e. PDF, spreadsheet and a machine readable format (either JSON or XML) on a monthly basis or whenever there is change in any of the specified fields, whichever is earlier, within 5 working days of such change. Scheme factsheet Link for Scheme factsheet: www.angelonemf.com/downloads Scheme specific disclosures Please refer below for Scheme specific disclosures. 35Scheme Specific Disclosures : Portfolio rebalancing Portfolio rebalancing due to short term defensive consideration : Any alteration in the investment pattern will be for a short term on defensive considerations as per paragraph 1.14.1.2.b of the SEBI Master Circular dated June 27, 2024, the intention being at all times to protect the interests of the Unit holders and the Scheme shall rebalance the portfolio within 7 calendar days from the date of deviation. It may be noted that no prior intimation/indication will be given to Investors when the composition/asset allocation pattern under the Scheme undergoes changes within the permitted band as indicated above. Portfolio rebalancing in case of passive breaches : In the event of deviation from mandated asset allocation mentioned above due to passive breaches, the rebalancing will be carried out in 30 business days. Where the portfolio is not rebalanced within 30 business days, justification for the same including details of efforts taken to rebalance the portfolio shall be placed before the Investment Committee and reasons for the same shall be recorded in writing. The Investment Committee, if so desires, can extend the timelines up to sixty (60) business days from the date of completion of mandated rebalancing period in accordance with clause 2.9 of SEBI Master Circular dated June 27, 2024. However, at all times the portfolio will adhere to the overall investment objectives of the Scheme. For detailed disclosure, kindly refer SAI. Disclosure w.r.t investments by key personnel and AMC Sr. No. Category of Net Value Market Value directors including regulatory Persons (in Rs.) provisions Units NAV per units Not Applicable* *The Scheme is a new scheme and hence, this disclosure is currently not applicable. For details of investments made by the Directors and Key Personnel of the AMC, please refer to SAI. Investments of AMC in the From time to time and subject to the SEBI MF Regulations, the Scheme Sponsor, its associate companies and subsidiaries, and the AMC may invest either directly or indirectly in the Scheme. The AMC shall not be entitled to charge any fees on investments made by the AMC in the Scheme. Please refer to (www.angelonemf.com/downloads) for 36details of investments made by the AMC in the Scheme. Taxation For details on taxation please refer to the clause on Taxation in the SAI. Associate Transactions This Scheme is a new scheme and hence, this disclosure is currently not available. For detailed disclosure, kindly refer SAI. Listing and transfer of units Listing : Since the Scheme is an open ended scheme, Sale and Repurchase is available on a continuous basis and therefore, the Units of the Scheme are presently not proposed to be listed on any stock exchange. However, the Fund may at its sole discretion list the Units under the Scheme on one or more Stock Exchanges at a later date, and thereupon the Fund will make a suitable public announcement to that effect. Transfer : In accordance with clause 14.4.4 of SEBI Master Circular dated June 27, 2024, units of the Scheme that are held in electronic (demat) form, will be transferable and will be subject to the transmission facility in accordance with the provisions of SEBI (Depositories and Participants) Regulations, 1996 as may be amended from time to time. If a person becomes a holder of the Units consequent to operation of law, or upon enforcement of a pledge, the Fund will, subject to production of satisfactory evidence, effect the transfer, if the transferee is otherwise eligible to hold the Units. Similarly, in cases of transfers taking place consequent to death, insolvency etc., the transferee’s name will be recorded by the Fund subject to production of satisfactory evidence. The delivery instructions for transfer of Units will have to be lodged with the DP in requisite form as may be required from time to time and transfer will be effected in accordance with such rules / regulations as may be in force governing transfer of securities in dematerialized mode. Units held in non-demat form, unless otherwise restricted or prohibited, shall be freely transferable by act of parties or by operation of law. Transfer of Units will be subject to submission of valid documents and fulfillment of the eligibility requirements by the Unit holder/Investor as stated under AMFI best Practice guideline No.135/BP/ 116 /2024-25 dated August 14, 2024 and internal processes of the AMC, if any. 37For more details, please refer to the SAI. Dematerialization of units The AMC shall issue units in dematerialized form to a Unit holder in the Scheme within two Business Days of receipt of valid request from the Unit holder subject to receipt of complete documents and details from the Unit holder. In case, the Unit holder desires to hold the units in a Dematerialized /Rematerialized form at a later date, the request for conversion of units held in non-demat form into Demat (electronic) form or vice- versa should be submitted along with a Demat/Remat Request Form to their Depository Participants. Please refer to the SAI for further details. Minimum Target amount The Scheme seeks to collect Rs. 10 crores as the minimum Subscription (This is the minimum amount and would retain any excess Subscription collected. If the Scheme does required to operate the not collect the minimum Subscription during the NFO, refund will be scheme and if this is not made within 5 Business Days from closure of the NFO. collected during the NFO period, then all the investors would be refunded the amount invested without any return.) Maximum Amount to be There is no limit to the maximum amount that can be raised by the raised (if any) Scheme. Dividend Policy (IDCW) The Scheme offers only Growth option under its Plans (viz. Regular and Direct). Allotment (Detailed procedure) The AMC shall allot units to those applicants whose valid applications have been accepted and funds have been credited to the Scheme’s bank account. For applicants applying through ASBA on allotment, the amount will be unblocked in their respective bank accounts and their bank accounts will be debited only to the extent required to pay for allotment of Units applied in the application form. The AMC shall allot units within 5 Business Days from the date of closure of the NFO period. The amount for fractional units, if any, will be refunded to the Investor. The AMC/Trustee may reject any application for Subscription if found incomplete. 38Allotment Confirmation / Consolidated Account Statement (CAS) Single Consolidated Account Statement (SCAS): The AMC shall send allotment confirmation specifying the number of units allotted to the Investor by way of email and/or SMSs to the Investor’s registered email address and/or mobile number not later than 5 (five) Business Days from the date of closure of the New Fund Offer Period. Thereafter, Single Consolidated Account Statement (SCAS), based on PAN of the holders, shall be sent by the Depositories, for each calendar month within twelve (12) days from the month end, to those Unit holders who have opted for delivery via electronic mode and within fifteen (15) days from the month end, to those Unit holders who have opted for delivery via physical mode. The SCAS as mentioned above will be sent to those Unit holders, in whose folio(s)/demat account(s) transactions have taken place during that month. Applicants under the Scheme will have an option to hold the Units either in physical form (i.e. account statement) or in dematerialized form. Further, the AMC shall issue units in dematerialized form to a Unit holder in the Scheme within five Business Days from the date of closure of the NFO, subject to receipt of complete documents and details from the Unit holder. Where units are held by Investor in dematerialised form, the demat statement issued by the DP would be deemed adequate compliance with the requirements in respect of dispatch of statements of account. Refund If application is rejected, full amount will be refunded in terms of applicable provision of SEBI Master circular dated June 27, 2024. Who can invest The following persons may apply for Subscription to the units of the Scheme (subject, wherever relevant, to purchase of units of mutual This is an indicative list and funds being permitted under respective constitutions, relevant investors shall consult their statutory regulations and with all applicable approvals): financial advisor to ascertain • Resident adult individuals either singly or jointly (not exceeding whether the scheme is suitable three) or on anyone or survivor basis. to their risk profile • Minor through parent/lawful guardian. • Companies, Bodies Corporate, Public Sector Undertakings, Co- operative societies, Association of Persons or Body of Individuals whether incorporated or not and societies registered under the Societies Registration Act, 1860 (so long as the purchase of units is permitted under the respective constitutions). • Charitable or religious trusts, wakf boards or endowments and registered societies (including registered co-operative societies) and private trusts authorized to invest in mutual fund schemes 39under their trust deeds. • Non-Government Organisations as may be permitted by their regulator. • Proprietorship in the name of the sole proprietor. • Partnership Firms and Limited Liability Partnerships (LLPs). • Hindu Undivided Family (HUF) in the name of Karta. • Banks (including Co-operative Banks and Regional Rural Banks), Financial Institutions and Investment Institutions. • Non-resident Indians/Persons of Indian origin residing abroad (NRIs) on full repatriation basis or on non-repatriation basis. • Foreign Portfolio Investors (FPIs) /sub-accounts registered with SEBI (subject to regulations / directions prescribed by the RBI/SEBI from time to time relating to FPI investments in mutual fund schemes) on repatriation basis. • Army, Air Force, Navy, para-military funds and other eligible institutions. • Scientific and Industrial Research Organizations. • Mutual funds / Alternative Investment Funds registered with SEBI. • Provident/Pension/Gratuity/Superannuation and such other retirement and employee benefit and other similar funds as and when permitted to invest. • International Multilateral Agencies or body corporates incorporated outside India approved by the Government of India/RBI. • Special Purpose Vehicles (SPVs) approved by appropriate authority (subject to RBI approval) • Unincorporated body of persons as may be accepted by the AMC/Trustee. • The Trustee, AMC or Sponsor of the Mutual Fund or their associates • Other schemes of Angel One Mutual Fund, subject to the conditions and limits prescribed by SEBI and/or by the Trustee/ AMC. • Insurers, insurance companies / corporations registered with the Insurance Regulatory Development Authority. • Other categories of Investors who are permitted to invest in the Scheme as per their respective constitutions. The above list is indicative and the applicable law, if any, would supersede the above list. Investors are requested to ensure compliance with the regulatory guidelines applicable to them, while making such investments. Who cannot invest The following persons are not eligible to subscribe to the Units of the Scheme: 1) Residents in Canada. 2) United States Persons (U.S. Persons) and Non-resident 40Indians/Persons of Indian Origin residing in United States and Canada. 3) Persons residing in the Financial Action Task Force (FATF) Non Compliant Countries and Territories (NCCTs). 4) Any entity who is not permitted to invest in the Scheme as per its constitution / applicable regulations. The policy regarding reissue of The units under the Scheme once Repurchased, shall not be reissued. repurchased units, including the maximum extent, the manner of reissue, the entity (the scheme or the AMC) involved in the same. Restrictions, if any, on the right In the interest of the Investors and in order to protect the portfolio to freely retain or dispose of from market volatility, the Trustee reserves the right to limit or units being offered. discontinue Subscriptions under the Scheme for a specified period of time or till further notice. Cut off timing for The below cut-off timings and applicability of NAV shall be applicable subscriptions/ redemptions/ in respect of valid applications received at the Official Point(s) of switches Acceptance on a Business Day: This is the time before which A. Applicable NAV for Subscriptions / Switch-ins (irrespective of your application (complete in application amount): all respects) should reach the 1. In respect of valid applications received upto 3.00 p.m. on a official points of acceptance. Business Day at the official point(s) of acceptance and funds received upto 3.00 p.m. for the entire amount of Subscription/purchase (including switch ins) as per the application are credited to the bank account of the Scheme before the cut-off time on same day i.e. available for utilization before the cut-off time - the closing NAV of the day shall be applicable. 2. In respect of valid applications received after 3.00 p.m. on a Business Day at the official point(s) of acceptance and funds for the entire amount of Subscription/purchase (including switch ins) as per the application are credited to the bank account of the Scheme either on same day or before the cut-off time of the next Business Day i.e. available for utilization before the cut-off time of the next Business Day - the closing NAV of the next Business Day shall be applicable. 3. Irrespective of the time of receipt of application at the official point(s) of acceptance, where funds for the entire amount of Subscription/purchase (including switch-ins) as per the application are credited to the bank account of the Scheme before the cut-off time on any subsequent Business Day - the closing NAV of such 41subsequent Business Day shall be applicable. 4. In case of switch transactions from any scheme to the Scheme, allotment of units in the Scheme shall be in line with the Redemption payouts of the switched-out scheme. The aforesaid provisions shall also apply to systematic transactions i.e. Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), Systematic Withdrawal Plan (SWP), etc. irrespective of the installment date. B. Applicable NAV for Redemptions/Switch-outs : In respect of valid applications received upto 3.00 p.m. by the Mutual Fund, the closing NAV of that day shall be applicable. In respect of valid applications received after 3.00 p.m. by the Mutual Fund, the closing NAV of the next Business Day shall be applicable. “Switch Out” shall be treated as Redemption application and accordingly, closing NAV of the day will be applicable based on the cut- off time for Redemption followed for various type of schemes. “Switch In” shall be treated as purchase application and accordingly for unit allotment, closing NAV of the day will be applicable on which the funds are available for utilization. Minimum balance to be Not applicable. maintained and consequences of non- maintenance Accounts Statements (during on- The AMC shall send an allotment confirmation specifying the units going offer) allotted by way of e-mail and/or SMS within 5 working days of receipt of valid application/transaction to the Unit holder’s registered e-mail address and/ or mobile number (whether units are held in demat mode or in account statement form). A Consolidated Account Statement (CAS) detailing all the transactions across all mutual funds (including transaction charges paid to the distributor) and holding at the end of the month shall be sent by the Depositories to the Unit holders in whose folio(s)/demat account(s), transaction(s) have taken place during the month, within twelve (12) days from the month end, to those Unit holders who have opted for delivery via electronic mode and within fifteen (15) days from the month end, to those Unit holders who have opted for delivery via physical mode. In case there is no transaction in any of the mutual fund folios / demat 42accounts of the Investor, half-yearly CAS with holding details shall be by the Depositories to those Investors that have opted for delivery via electronic mode, on or before the eighteenth (18th) day of April and October and to those Investors that have opted for delivery via physical mode, on or before the twenty-first (21st) day of April and October. However, where an Investor does not wish to receive CAS through e- mail, option shall be given to the Investor to receive the CAS in physical form at the address registered with the Depositories and the AMCs/MF-RTAs. In case of the units are held in dematerialized (demat) form, the statement of holding of the beneficiary account holder will be sent by the respective Depository Participant periodically. For further details, refer SAI. Dividend/ IDCW Not Applicable, as the Scheme will offer only Growth Option. Redemption The Redemption or Repurchase proceeds shall be dispatched to the Unit holders within three working days from the date of Redemption or Repurchase. AMFI, in consultation with SEBI, has published a list of exceptional circumstances for schemes unable to transfer Redemption or Repurchase proceeds to Investors within the stipulated time as mentioned above, along with applicable time frame for transfer of Redemption or Repurchase proceeds to the unitholders in such exceptional circumstances. The said list is available on AMFI website. Investors are requested to note that it is mandatory to complete the KYC requirements for all Unit holders, including for all joint holders and the guardian in case of folio of a minor Investor. Accordingly, completion of KYC requirements shall be mandatory and all financial transactions (including Redemptions, switches etc.) will be processed only if the KYC requirements are completed. Unit holders are advised to use the applicable KYC Form for completing the KYC requirements and submit the form at the designated Investor Service Centre of the Mutual Fund/CAMS. Bank Mandate As per the directives issued by SEBI, it is mandatory for applicants to mention their bank account numbers in their applications and therefore, Investors are requested to fill-up the appropriate box in the 43application form failing which applications are liable to be rejected. Additionally, if the bank details provided by Investors are different from the details available on instrument, the AMC may seek additional details from Investors to validate the bank details provided by Investors. Delay in payment of The Asset Management Company shall be liable to pay interest to the redemption/ repurchase unitholders at @ 15% per annum as specified vide paragraph 14.2 of proceeds/dividend the SEBI Master Circular dated June 27, 2024 for the period of such delay. However, the AMC will not be liable to pay any interest or compensation or any amount otherwise, in case the AMC/Trustee is required to obtain from the Investor/Unit holder, verification of identity or such other details relating to Subscription/Redemption for Units under any applicable law or as may be requested by a Regulatory Authority or any government authority, which may result in delay in processing the application. For further details, refer SAI. Unclaimed Redemption and The unclaimed Redemption and Dividend (IDCW) amount may be Income Distribution cum Capital deployed by the Mutual Fund in call money market, Money Market Withdrawal Amount Instruments or separate plan of overnight scheme/ liquid scheme / money market mutual fund scheme floated specifically for deployment of the unclaimed amounts only. Provided that such schemes where the unclaimed Redemption and Dividend amounts are deployed shall be only those Overnight scheme/ Liquid scheme / Money Market Mutual Fund schemes which are placed in A-1 cell (Relatively Low Interest Rate Risk and Relatively Low Credit Risk) of Potential Risk Class matrix. The Investors who claim the unclaimed amounts during a period of three years from the due date shall be paid initial unclaimed amount along-with the income earned on its deployment. Investors, who claim these amounts after 3 years, shall be paid initial unclaimed amount along-with the income earned on its deployment till the end of the third year. After the third year, the income earned on such unclaimed amounts shall be used for the purpose of investor education. Please refer to SAI for further details. Disclosure w.r.t investment by A minor can invest through his/her parent/lawful guardian. Minors can minors complete their KYC requirements for their folio through guardian. Payment for investment by any mode shall be accepted from the bank account of the minor, parent or legal guardian of the minor with parent or legal guardian. 44For further details, please refer to SAI. For further details, refer SAI. Principles of incentive structure Not applicable. for market makers (for ETFs) ******************************************************************************* 45Disclosures in terms of Consolidated Checklist on Standard Observations Where will the scheme invest? Subject to the Regulations, the amount collected under the Scheme can be invested in any of the following securities/ instruments, as (To include only those asset per the indicative asset allocation table given under the heading classes which are provided for ―How will the Scheme allocate its assets : in the asset allocation) (i) Units of Angel One Silver ETF (ii) Reverse Repo and/or Tri-Party Repo on Government Securities and/or Treasury bills. (iii) Cash & Cash Equivalents which include Government Securities, T-bills and Repo on Government Securities having residual maturity of less than 91 days. (iv) Money Market Instruments which include commercial papers, commercial bills, treasury bills, Government Securities having an unexpired maturity up to one year, call or notice money, certificate of deposit, usance bills, and any other like instruments as specified by the Reserve Bank of India from time to time to meet the liquidity requirements. (v) Units of money market / liquid mutual fund schemes, subject to requisite regulatory guidelines. (vi) Any other securities / instruments as may be permitted by SEBI from time to time, subject to requisite regulatory approvals, if any. MONEY MARKET IN INDIA The money market in India essentially consist of the call money market (i.e. market for overnight and term money between banks and institutions), Repo transactions (temporary sale with an agreement to buy back the securities at a future date at a specified price), commercial papers (CPs, short term unsecured promissory notes, generally issued by corporates), certificate of deposits (CDs, issued by banks) and Treasury Bills & Cash Management Bills (issued by RBI). In a predominantly institutional market, the key money market players are banks, financial institutions, insurance companies, mutual funds, primary dealers and corporates. Following table exhibits various debt instruments along with indicative yields as on December 31, 2025: Instruments Yield level (% per annum) 3 months CP 6.67% 3 months CD 6.13% 1 year CP 7.44% 461 year CD 6.66% Source: NSE Indices Ltd. Note: Yields provided in the above table are based on the Nifty CP & Nifty CD indices The actual yields will, however, vary in line with general levels of interest rates and debt/money market conditions prevailing from time to time. Due Diligence by the AMC It is confirmed that: (i) The draft Scheme Information Document submitted to SEBI is in accordance with the SEBI (Mutual Funds) Regulations, 1996 and the guidelines and directives issued by SEBI from time to time. (ii) All legal requirements connected with the launching of the Scheme as also the guidelines, instructions, etc., issued by the Government and any other competent authority in this behalf, have been duly complied with. (iii) The disclosures made in the draft Scheme Information Document are true, fair and adequate to enable the investors to make a well informed decision regarding investment in the Scheme. (iv) The intermediaries named in the draft Scheme Information Document and Statement of Additional Information are registered with SEBI and their registration is valid, as on date. (v) The contents of the draft Scheme Information Document including figures, data, yields etc. have been checked and are factually correct. (vi) A confirmation that the AMC has complied with the compliance checklist applicable for Scheme Information Documents and other than cited deviations/that there are no deviations from the SEBI MF Regulations. (vii) Notwithstanding anything contained in this draft Scheme Information Document, the provisions of the SEBI (Mutual Funds) Regulations, 1996 and the guidelines thereunder shall be applicable. (viii) The Trustee has ensured that Angel One Silver ETF FOF approved by them is a new product offered by Angel One Mutual Fund and is not a minor modification of any existing scheme/fund/product. Investment strategy The Scheme is a passively managed Fund of Fund which will employ an investment objective to generate returns that are linked to the returns generated by the underlying ETF, i.e. Angel One Silver ETF. Accordingly, the Scheme may buy/sell the units of Angel One Silver 47ETF either directly with the Fund or through the secondary market on the Stock Exchange(s). The Scheme will remain invested in the underlying scheme regardless of the prevailing silver price or future outlook for this asset class. The Scheme will invest at least 95% of its total assets in the units of Angel One Silver ETF and it may hold up to 5% of its total assets in money market securities. The AMC shall endeavor that the returns of the Scheme shall correspond with that of Angel One Silver ETF. What are the investment Pursuant to the SEBI MF Regulations as amended from time to time, restrictions ? the following investment restrictions are presently applicable to the Scheme: 1) The Scheme shall not invest more than 10% of its NAV in debt instruments comprising Money Market Instruments and non- Money Market Instruments issued by a single issuer which are rated not below investment grade by a credit rating agency authorised to carry out such activity under the SEBI Act as per the following matrix : a) 10% of its NAV in debt and money market securities rated AAA; or b) 8% of its NAV in debt and money market securities rated AA; or c) 6% of its NAV in debt and money market securities rated A and below issued by a single issuer. The above instrument limits may be extended by up to 2% of the NAV of the Scheme with prior approval of the Board of Trustees and Board of Directors of the AMC, subject to compliance with the overall 12% limit specified in clause 1 of Seventh Schedule of the Regulations. Provided that such limit shall not be applicable for investments in Government Securities, treasury bills and TREPs. Provided further that investment within such limit can be made in mortgaged backed securitised debt which are rated not below investment grade by a credit rating agency registered with SEBI. Considering the nature of the Scheme, investments in such instruments will be permitted up to 5% of its NAV. 2) The Scheme shall not invest in unlisted commercial papers (CPs), other than (a) Government Securities, and (b) other Money Market Instruments. 48For the above purposes, listed instruments shall include listed and to be listed instruments. 3) The Scheme shall not invest more than 5% of its net assets in unrated Money Market Instruments, other than Government Securities, treasury bills, etc. All such investments shall be made with the prior approval of the Boards of AMC and Trustee. Such investments would be made only in such instruments, including bills re-discounting, usance bills, etc., that are generally not rated and for which separate investment norms or limits are not provided in SEBI MF Regulations and various circulars issued thereunder. 4) The Scheme shall buy and sell securities on the basis of deliveries and shall in all cases of purchases, take delivery of relevant securities and in all cases of sale, deliver the securities. Provided further that sale of government security already contracted for purchase shall be permitted in accordance with the guidelines issued by the Reserve Bank of India in this regard. 5) The Scheme shall not make any investment in: i. any unlisted security of an associate or group company of the Sponsor; or ii. any security issued by way of private placement by an associate or group company of the Sponsor; or iii. the listed securities of group companies of the Sponsor which is in excess of 25 per cent of the net assets, except for investments made by the Scheme in compliance with such conditions as specified by SEBI. 6) The Fund shall get the securities purchased transferred in the name of the Fund on account of the Scheme, wherever investments are intended to be of a long-term nature. 7) No loans for any purpose can be advanced by the Scheme. 8) The Scheme shall not borrow except to meet temporary liquidity needs of the Scheme for the purpose of Repurchase/Redemption of units or payment of interest and/or Dividend to the Unitholders, provided that the Scheme shall not borrow more than 20% of its net assets and the duration of the borrowing shall not exceed a period of 6 months. 9) Pending deployment of the funds of the Scheme in securities in 49terms of the investment objective of the Scheme, the AMC may park funds of the Scheme in short term deposits of scheduled commercial banks, subject to the guidelines issued by SEBI from time to time. Currently, the following guidelines/restrictions are applicable for parking of funds in short term deposits: • “Short Term” for such parking of funds by the Scheme shall be treated as a period not exceeding 91 days. • Such short-term deposits shall be held in the name of the Scheme. • The Scheme shall not park more than 15% of its net assets in short term deposit(s) of all the scheduled commercial banks put together. However, such limit may be raised to 20% with prior approval of the Trustee. • The Scheme shall not park more than 10% of its net assets in short term deposit(s),with any one scheduled commercial bank including its subsidiaries. • The Scheme shall not park funds in short term deposit of a bank which has invested in the Scheme. The Boards of Trustee / AMC shall ensure that the bank in which the Scheme has short term deposit do not invest in the Scheme until the Scheme has short term deposit with such bank. • The AMC shall not charge any investment management and advisory fees for parking of funds in short term deposits of scheduled commercial banks. The above provisions will not apply to term deposits placed as margins for trading in cash market. 10) The Scheme shall not make any investment in a Fund of Funds scheme. 11) The funds of the Scheme shall be invested only in silver or silver related instruments in accordance with the investment objective, except to the extent necessary to meet the liquidity requirements for honouring repurchases or Redemptions, as disclosed in this SID. Presently, as per SEBI MF Regulations, investments by the Scheme can be made only in physical silver. The Scheme will comply with the relevant regulatory investment limits applicable to the investments of mutual funds from time to time. The Trustee may alter the above restrictions from time to time to the extent that changes in the relevant Regulations may allow and/or as deemed fit in the general interest of the Unitholders. All investment restrictions shall be applicable at the time of making 50the investment. Fundamental Attributes Following are the “fundamental attributes” of the Scheme, in terms of Regulation 18(5A) of the SEBI MF Regulations: (i) Type of a scheme (ii) Investment Objective • Main Objective • Investment Pattern (iii) Terms of Issue • Listing • Redemption • Aggregate Fees and Expenses • Any safety net or guarantee provided In accordance with Regulation 18(15A) and Regulation 25(26) of the SEBI (MF) Regulations and paragraph 1.14.1.4 of the SEBI Master Circular dated June 27, 2024, the Trustee shall ensure that no change in the fundamental attributes of the Scheme and the Plan(s)/Option(s) thereunder or the trust or fee and expenses payable or any other change which would modify the Scheme and the Plan(s)/Option(s) thereunder and affect the interests of Unit holders is carried out unless : • SEBI has reviewed and provided its comments on the proposal; • A written communication about the proposed change is sent to each Unit holder and an advertisement is given in one English daily newspaper having nationwide circulation as well as in a newspaper published in the language of the region where the Head Office of the Mutual Fund is situated; and • The Unit holders are given an option for a period of at least 30 calendar days to exit at the prevailing Net Asset Value without any Exit Load. Who manages the Scheme Name Age / Brief Experience Other schemes Qualification managed / co- managed Mr. 42 years Mr. Mehul Dama has  Angel One Mehul over 19 years of work Nifty Total Dama B. Com., C. experience in financial Market Index A. services industry Fund including 14 years in  Angel One Indian Passive Mutual Nifty Total Fund industry, across Market ETF operations, fund  Angel One accounting, valuation, Nifty 50 and investment roles. Index Fund 51Please find below brief  Angel One details of his Nifty 1D Rate experience: Liquid ETF- • Angel One AMC: Growth December 2023  Angel One till Date Nifty 50 ETF • Nippon India AMC:  Angel One • April 2018 to Gold ETF December 2023  Angel One (Fund Manager Gold ETF FOF & Dealer ETF)  Angel One • November 2016 Nifty Total to April 2018 Market (Lead Finance) Momentum • Goldman Sachs Quality 50 AMC: August 2011 ETF to November 2016  Angel One (Vice President – Nifty Total Controllers) Market • Benchmark AMC : Momentum January 2010 to Quality 50 August 2011 Index Fund (Assistant Vice President– Operations /Controllers) Mr. 35 years Mr. Kewal Shah has an  Angel One Kewal overall experience of Nifty Total Shah PGDM over 10 years across Market Index (Finance) Operations and Dealing Fund functions in the mutual  Angel One fund industry. Nifty Total Market ETF Prior to joining Angel  Angel One One AMC, Mr. Kewal Nifty 50 Shah was associated Index Fund with ICICI Prudential  Angel One AMC as Fund Manager Nifty 1D Rate where he managed Liquid ETF- domestic and Growth international ETFs along  Angel One with other passive Nifty 50 ETF funds for around 2.5  Angel One years, prior to which he Gold ETF 52was part of the  Angel One Operations team for Gold ETF FOF around 5 years. Mr.  Angel One Kewal Shah was also Nifty Total associated with Philip Market Capital (India) Pvt. Ltd. Momentum and with JM Financial Quality 50 Services Ltd. in the ETF Operations team.  Angel One Nifty Total Market Momentum Quality 50 Index Fund New Fund Offer Period NFO opens on : [*] This is the period during which a NFO closes on : [*] new scheme sells its units to the investors. Minimum duration to be 3 working days and will not be kept open for more than 15 days. Any modification to the New Fund Offer Period (not exceeding the NFO period limit of 15 days) shall be announced by way of an addendum uploaded on website of the AMC. Minimum balance to be Not applicable. maintained and consequences of non-maintenance 53